2Performant posts a turnover of 10.5 million lei in the first quarter of 2023, up 25%
2Performant (BVB: 2P), a technology company and the leader of the affiliate marketing market in Romania posts a turnover of 10.5 million lei in Q1 2023, a 25% increase compared to the previous year, and a normalized negative result (which does not include the non-cash impact of the Stock Option Plan program) of 683 thousand lei, a 33% improvement compared to Q1 2022.
“We started 2023 with a very good first quarter in which we achieved all our objectives – operational, financial, and platform development. We implemented several projects with a positive long-term impact on income. We achieved all of our financial targets, which should be interpreted in the context that our activity has a strong quarterly seasonality. The 2Performant business and platform will receive significant upgrades this year. I am pleased to announce to investors that in early October, we will be holding our ‘2Performant 2025 – Investors Day’ event, where we will announce the company’s updated plans for the next two years,” stated Dorin Boerescu, Chairman of the Board of Directors and CEO of 2Performant.
In Q1 2023, 2Performant posted an operating income of 11.7 million lei, a 29% increase compared to the same period in 2022. This increase is mainly due to a 25% increase in turnover, as well as a 73% increase in income from the production of intangible and tangible assets to 1.2 million lei. Operating income (turnover minus commissions due to affiliates) also increased by 26% in the first three months of 2023 to 2.6 million lei.
Of the 10.5 million lei turnover achieved in the first quarter of 2023, Romania contributed 86%, while the foreign market generated 14% of the turnover. This ratio remains unchanged from the previous year. In terms of income by payment method, pre-paid vs. post-paid, in Q1 2023, there was an increase in pre-paid payments compared to post-paid. Thus, while in Q1 2022, the pre-paid vs. post-paid split was 43-57%, in the same period in 2023, pre-paid generated 61% of revenue, compared to 39% post-paid.
“The investments we made in our team and platform have already started to generate the expected impact. The increase in income from the production of intangible and tangible assets results from the growth of the Product Development and Business Intelligence team, as all 2Performant development projects are carried out with internal resources. Our team has also achieved remarkable results in improving the quality of the ecosystem, as reflected by numerous indicators. These include the adoption of Direct Debit and Big Bear functionalities aimed at automating the payment of marketing budgets and the conversion attribution system. In addition, we have seen an increase in the average number of sales generated by an affiliate and the average revenue per new customer launched on the platform,” added Dorin Boerescu.
Regarding the operational results registered by the company in Q1 2023, the 2Performant platform generated sales of 28.8 million euros (excluding VAT), a 40% increase compared to the same period last year. The platform’s 6,039 unique users sent 24.5 million clicks to 2Performant’s online stores, an 18% increase compared to Q1 2022, resulting in a total of 647,400 online sales (+59% vs. Q1 2022), generating commissions of 1.8 million euros (+31% vs. Q1 2022).
2Perfomant is listed on the AeRO market as of December 9, 2020, and as of October 2021, 2P shares are included in the BET-AeRO index developed by the Bucharest Stock Exchange.
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About 2Performant
2Performant Network SA is the Romanian technology company that develops, operates, and monetizes the 2Performant.com collaborative marketing platform through which online stores collaborate with the best online advertising and traffic sources through a Cost Per Sale model.
With a unique global vision on the gamification of marketing collaborations based on performance and transparency, 2Performant has brokered over 9.9 million online sales worth 456 million euros in 14 years of activity, through more than 623 million clicks, for several thousand online stores in Romania and in the region, from over 30 industries.
According to the company’s data, 2Performant is the largest local traffic source for online stores in Romania, bringing approximately 7.1 million monthly clicks for the portfolio clients.
2Performant Network SA is listed on the AeRO market of the Bucharest Stock Exchange as of 2020 under the symbol 2P – the first public technology company in Romania.